IFC Boosts Access to Finance for Women-Owned, Climate-Focused Smaller Businesses in Türkiye

The International Finance Corporation (IFC) is investing $75 million in subordinated debt financing to help Turkish bank Akbank expand lending to small and medium-sized enterprises (SMEs), with a focus on women-owned businesses and those helping Turkey adapt to climate change. The investment is part of a $300 million financing package and IFC’s first subordinated debt financing in Turkey that complies with Basel III requirements and Turkey’s banking regulations. The financing will contribute to Akbank’s capital base and support the bank’s corporate and sustainability vision. The investment is part of IFC’s strategy to build a resilient financial system in Turkey and boost climate financing, as Turkey is one of the top 10 most energy-intensive countries in the OECD.

Resource: https://esgnews.com/ifc-boosts-access-to-finance-for-women-owned-climate-focused-smaller-businesses-in-turkiye/#

MICRO-LEARNING

Learn with us in small steps

Find out more about us